Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Rating of “Hold” from Analysts

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Shares of Brown & Brown, Inc. (NYSE:BRO) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $40.17.

Several analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Brown & Brown from $38.00 to $42.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. They noted that the move was a valuation call. ValuEngine raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Raymond James decreased their target price on Brown & Brown from $48.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday. SunTrust Banks reissued a “buy” rating and set a $52.00 target price on shares of Brown & Brown in a research report on Wednesday, January 29th. Finally, Morgan Stanley lifted their target price on Brown & Brown from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th.

In other news, EVP Chris L. Walker sold 4,469 shares of Brown & Brown stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $48.46, for a total value of $216,567.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.69% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of BRO. Norges Bank bought a new stake in shares of Brown & Brown during the 4th quarter valued at $91,157,000. Madison Asset Management LLC acquired a new position in shares of Brown & Brown in the fourth quarter worth $73,151,000. State Street Corp raised its holdings in shares of Brown & Brown by 20.4% in the fourth quarter. State Street Corp now owns 10,725,629 shares of the financial services provider’s stock worth $423,448,000 after acquiring an additional 1,815,178 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Brown & Brown by 207.7% in the fourth quarter. California Public Employees Retirement System now owns 1,984,459 shares of the financial services provider’s stock worth $78,346,000 after acquiring an additional 1,339,531 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Brown & Brown in the fourth quarter worth $33,132,000. Hedge funds and other institutional investors own 72.39% of the company’s stock.

Shares of BRO traded up $1.83 during midday trading on Thursday, reaching $35.96. The company had a trading volume of 223,400 shares, compared to its average volume of 2,494,726. Brown & Brown has a 1-year low of $29.06 and a 1-year high of $48.69. The stock has a market cap of $9.98 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.31 and a beta of 0.65. The firm has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $39.60. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.45.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $579.00 million during the quarter, compared to analyst estimates of $563.56 million. Brown & Brown had a return on equity of 12.23% and a net margin of 16.66%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown will post 1.54 earnings per share for the current fiscal year.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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